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        <fairValLevel>2</fairValLevel>
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        <name>Amazon.com, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital One Financial Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Evergy Missouri West, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Starwood Mortgage Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First National Master Note Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nutrien Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Global Payments Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>SBNA Auto Lease Trust 2024-C</name>
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        <name>Enbridge Inc.</name>
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        <name>Navient Private Education Refi Loan Trust</name>
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        <name>eBay Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Bills</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Residential Mortgage Loan Trust 2024-NQM3</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Principal Life Global Funding II</name>
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        <name>Enbridge Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jackson National Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCG Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mercedes-Benz Finance North America LLC</name>
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        <name>Global Payments Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Residential Mortgage Loan Trust 2025-DSC2</name>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Notes/Bonds</name>
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        <name>BMW US Capital, LLC</name>
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        <name>John Deere Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SFS Auto Receivables Securitization Trust 2026-1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Phillips 66</name>
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        <name>American Honda Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Auto Lease Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco Bilbao Vizcaya Argentaria S.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Starwood Mortgage Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Residential Mortgage Loan Trust 2023-NQM1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Intel Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Huntington National Bank (The)</name>
        <lei>2WHM8VNJH63UN14OL754</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enbridge Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc.</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>Santander UK Group Holdings PLC</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings PLC</title>
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        <curCd>USD</curCd>
        <valUSD>12895983.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.53400000</annualizedRt>
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      <invstOrSec>
        <name>VMware LLC</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMware LLC</title>
        <cusip>928563AJ4</cusip>
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          <isin value="US928563AJ42"/>
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        <balance>11000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10916489.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>F&amp;G Global Funding</name>
        <lei>6354009CCUKJIZ7KFX73</lei>
        <title>F&amp;G Global Funding</title>
        <cusip>30321L2G6</cusip>
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          <isin value="US30321L2G69"/>
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        <balance>7514000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7600377.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US89231HAB24"/>
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        <balance>4389774.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4395559.24000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.46000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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          <isin value="US06738ECF07"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12002911.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.82900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
        <cusip>02665WFN6</cusip>
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          <isin value="US02665WFN65"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10012904.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.37006300</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HYUNDAI CAPITAL SERVICES, Inc.</name>
        <lei>549300MALMDAGL2ZJJ27</lei>
        <title>HYUNDAI CAPITAL SERVICES, Inc.</title>
        <cusip>44920UAX6</cusip>
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          <isin value="US44920UAX63"/>
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        <balance>9500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9613324.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U3M30"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10046059.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.71810000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
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          <isin value="US693475CH64"/>
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        <curCd>USD</curCd>
        <valUSD>8160037.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.26798900</annualizedRt>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
        <cusip>378272BR8</cusip>
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          <isin value="US378272BR82"/>
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        <valUSD>10109449.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-04</maturityDt>
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        <name>Volkswagen Group of America Finance, LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>Volkswagen Group of America Finance, LLC</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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          <isin value="US05401ABE01"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>Wheels Fleet Lease Funding 1 LLC</name>
        <lei>549300BSFY0E0XXREF43</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>RR 16 Ltd.</name>
        <lei>549300FLUOZC8QYYKL96</lei>
        <title>RR 16 Ltd., Series 2021-16A, Class A1R</title>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2023-3, Class A2</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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        <balance>5400000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Howmet Aerospace Inc.</name>
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        <title>Howmet Aerospace Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Global Funding</name>
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        <title>Athene Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barings CLO Ltd. 2021-II</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jefferies Financial Group Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wheels Fleet Lease Funding 1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MassMutual Global Funding II</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MassMutual Global Funding II</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Agricole S.A.</name>
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        <title>Credit Agricole S.A.</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Starwood Mortgage Residential Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Mercedes-Benz Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>Mercedes-Benz Finance North America LLC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Lincoln Financial Global Funding</name>
        <lei>984500OC010458395923</lei>
        <title>Lincoln Financial Global Funding</title>
        <cusip>53359KAB7</cusip>
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        <balance>7383000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>RWE AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Synopsys, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Storage Operating Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Ares Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Energy Generation, LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo Funding LLC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Brookfield BRP Holdings Canada Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corebridge Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GMF Floorplan Owner Revolving Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bear Stearns Asset Backed Securities I Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>F&amp;G Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ellington Financial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Visio Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dell Equipment Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Principal Life Global Funding II</name>
        <lei>635400WSLKBQWSOIIT41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of Montreal</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GCRED BSL CLO 1</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>OBX 2024-NQM6 Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fidelity National Information Services, Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc.</title>
        <cusip>49271KE42</cusip>
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        <name>Equitable America Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pinnacle West Capital Corp.</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Thayer Park, CLO Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Citibank N.A.</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Invesco Short Duration Total Return Bond ETF</name>
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        <title>Invesco Short Duration Total Return Bond ETF</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Lloyds Banking Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dell Equipment Finance Trust</name>
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        <name>Jackson National Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MUFG Securities Canada Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MUFG Securities Canada Ltd.</name>
        <lei>549300Y1PMK3RWXMWR72</lei>
        <title>MUFG Securities Canada Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Trust Bank, Ltd.</name>
        <lei>5493006GGLR4BTEL8O61</lei>
        <title>Sumitomo Mitsui Trust Bank, Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank U.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amphenol Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NTT Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MassMutual Global Funding II</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Novartis Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELUS Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Transfer L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Auto Lease Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>L3Harris Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Blackstone Private Credit Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Volvo Financial Equipment LLC</name>
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        <name>Whetstone Park Clo, Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Home Depot, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mars, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jefferies Financial Group Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Merchants Fleet Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mizuho Markets Cayman L.P.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Magnetite XXXI, Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Heineken N.V.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brookfield BRP Holdings Canada Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Bank Ltd.</name>
        <lei>4ZHCHI4KYZG2WVRT8631</lei>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amur Equipment Finance Receivables XII LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>KKR CLO 21 Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Agricole S.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BRAVO Residential Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Delta Air Lines, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Volkswagen Group of America Finance, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Honda Finance Corp.</name>
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        <title>American Honda Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Australia and New Zealand Banking Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wheels Fleet Lease Funding 1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Principal Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Met Tower Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>USAA Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brunswick Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mizuho Bank, Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Abbott Laboratories</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mercedes-Benz Finance North America LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>F&amp;G Global Funding</name>
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        <name>GreatAmerica Leasing Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Verus Securitization Trust</name>
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        <name>Glencore Funding LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enbridge Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Glencore Funding LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Caterpillar Financial Services Corp.</name>
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        <title>Caterpillar Financial Services Corp., Series K</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cross 2024-H5 Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US22757HAA95"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2069-08-26</maturityDt>
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      <invstOrSec>
        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
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          <ticker value="PSXPP"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pinnacle West Capital Corp.</name>
        <lei>TWSEY0NEDUDCKS27AH81</lei>
        <title>Pinnacle West Capital Corp.</title>
        <cusip>723484AM3</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Barings Equipment Finance LLC 2025-B</name>
        <lei>N/A</lei>
        <title>Barings Equipment Finance LLC 2025-B, Series 2025-B, Class A2</title>
        <cusip>06764YAB4</cusip>
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        <balance>4800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>USAA Capital Corp.</name>
        <lei>5493007XLF4LU3U2W757</lei>
        <title>USAA Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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        <name>Northwestern Mutual Global Funding</name>
        <lei>635400LZXFVELZDVP257</lei>
        <title>Northwestern Mutual Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Equitable America Global Funding</name>
        <lei>98450066CCBIACF06694</lei>
        <title>Equitable America Global Funding</title>
        <cusip>29446Q2C6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AutoNation Finance Trust 2026-1</name>
        <lei>N/A</lei>
        <title>AutoNation Finance Trust 2026-1, Series 2026-1A, Class A2</title>
        <cusip>05330WAB5</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-11</maturityDt>
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        <name>White Plains Capital Co. LLC</name>
        <lei>N/A</lei>
        <title>White Plains Capital Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-07</maturityDt>
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        <name>Washington Morgan Capital Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mitsubishi Ufj Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pfizer Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCCU Auto Receivables Trust 2026-1</name>
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          <isin value="US80620DAB91"/>
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        <fairValLevel>2</fairValLevel>
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        <name>BlackRock DLF X 2025-C CLO L.P.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>World Omni Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HA Sustainable Infrastructure Capital, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumisho Air Lease Corp.</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Sumisho Air Lease Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>F&amp;G Global Funding</name>
        <lei>6354009CCUKJIZ7KFX73</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AutoNation Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aviation Capital Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Anglo American Capital PLC</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Trust Bank, Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank, N.A.</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
        <title>Morgan Stanley Bank, N.A.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A3T6</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Corebridge Global Funding</name>
        <lei>54930057MDZ7KOVOTV71</lei>
        <title>Corebridge Global Funding</title>
        <cusip>00138CBG2</cusip>
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        <balance>3653000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Cross 2023-H1 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Cross 2023-H1 Mortgage Trust, Series 2023-H1, Class A1</title>
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          <isin value="US22758CAA99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BofA Auto Trust 2025-1</name>
        <lei>N/A</lei>
        <title>BofA Auto Trust 2025-1, Series 2025-1A, Class A2A</title>
        <cusip>05594BAB2</cusip>
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          <isin value="US05594BAB27"/>
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        <curCd>USD</curCd>
        <valUSD>712858.59000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Corebridge Global Funding</name>
        <lei>54930057MDZ7KOVOTV71</lei>
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          <isin value="US00138CAU27"/>
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        <balance>6336000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hasbro, Inc.</name>
        <lei>549300NUB6D2R1ITYR45</lei>
        <title>Hasbro, Inc.</title>
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          <isin value="US418056AY31"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9969722.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Navistar Financial Dealer Note Master Owner Trust II 2025-1</name>
        <lei>N/A</lei>
        <title>Navistar Financial Dealer Note Master Owner Trust II 2025-1, Series 2025-1, Class A</title>
        <cusip>63938PBZ1</cusip>
        <identifiers>
          <isin value="US63938PBZ18"/>
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        <balance>4350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4348182.14000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2024-4, Class A2</title>
        <cusip>29374MAB4</cusip>
        <identifiers>
          <isin value="US29374MAB46"/>
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        <balance>2329867.39000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2334923.20000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.69000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>COLT Mortgage Loan Trust, Series 2020-2R, Class A1</title>
        <cusip>12656GAA4</cusip>
        <identifiers>
          <isin value="US12656GAA40"/>
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        <balance>795838.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>758178.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-10-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.32500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
        <cusip>254687GB6</cusip>
        <identifiers>
          <isin value="US254687GB61"/>
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        <balance>12000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11975385.36000000</valUSD>
        <pctVal>0.345504841983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.13583700</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>89115KAA8</cusip>
        <identifiers>
          <isin value="US89115KAA88"/>
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        <balance>12000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12050721.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.56827300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Beechwood Park CLO, Ltd.</name>
        <lei>N/A</lei>
        <title>Beechwood Park CLO, Ltd., Series 2019-1A, Class A1RR</title>
        <cusip>07355TBL5</cusip>
        <identifiers>
          <isin value="US07355TBL52"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9998480.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RWE AG</name>
        <lei>529900GB7KCA94ACC940</lei>
        <title>RWE AG</title>
        <cusip>7497MBRK0</cusip>
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          <isin value="US7497MBRK03"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19141934.00000000</valUSD>
        <pctVal>0.552268731494</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equitable Financial Life Global Funding</name>
        <lei>635400B4JJBON4TCHF02</lei>
        <title>Equitable Financial Life Global Funding</title>
        <cusip>29449WAF4</cusip>
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          <isin value="US29449WAF41"/>
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        <balance>8294000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7886311.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.80000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Sonoco Products Co.</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
        <title>Sonoco Products Co.</title>
        <cusip>83549SE73</cusip>
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          <ticker value="SONO"/>
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        <curCd>USD</curCd>
        <valUSD>7793721.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>M&amp;T Equipment LLC</name>
        <lei>N/A</lei>
        <title>M&amp;T Equipment LLC, Series 2025-1A, Class A2</title>
        <cusip>55340QAB1</cusip>
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          <isin value="US55340QAB14"/>
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        <balance>3987841.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4001746.15000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>213800W65K5FH3AI2J91</lei>
        <title>Verus Securitization Trust, Series 2023-7, Class A1</title>
        <cusip>92539YAA0</cusip>
        <identifiers>
          <isin value="US92539YAA01"/>
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        <balance>4540759.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4573742.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2068-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.07000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2025-P1, Class A2</title>
        <cusip>96043LAB6</cusip>
        <identifiers>
          <isin value="US96043LAB62"/>
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        <balance>3753335.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3759058.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>General Motors Financial Co. Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co. Inc.</title>
        <cusip>37046UEC1</cusip>
        <identifiers>
          <isin value="US37046UEC18"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9986948.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ADU8</cusip>
        <identifiers>
          <isin value="US44891ADU88"/>
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        <balance>8590000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deephaven Residential Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Deephaven Residential Mortgage Trust, Series 2021-2, Class A1</title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Caterpillar Financial Services Corp.</name>
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        <title>Caterpillar Financial Services Corp.</title>
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          <isin value="US14913UBE91"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>Jackson National Life Global Funding</title>
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          <isin value="US46849LVA69"/>
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        <balance>6719000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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          <isin value="US03027XAX84"/>
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        <balance>25917000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Toyota Motor Credit Corp.</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp., Series B</title>
        <cusip>89236TPR0</cusip>
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          <isin value="US89236TPR04"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15013406.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.30277800</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
        <title>Chesapeake Funding II LLC, Series 2023-1A, Class A2</title>
        <cusip>165183CV4</cusip>
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          <isin value="US165183CV43"/>
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        <balance>2129183.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2129799.48000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.89000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BINOM Securitization Trust</name>
        <lei>N/A</lei>
        <title>BINOM Securitization Trust, Series 2021-INV1, Class A1</title>
        <cusip>05552UAA2</cusip>
        <identifiers>
          <isin value="US05552UAA25"/>
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        <balance>2422847.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2231334.54000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.03400000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FCCU Auto Receivables Trust 2026-1</name>
        <lei>N/A</lei>
        <title>FCCU Auto Receivables Trust 2026-1, Series 2026-1A, Class A2</title>
        <cusip>30343XAB6</cusip>
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          <isin value="US30343XAB64"/>
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        <balance>8530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8513014.21000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.98000000</annualizedRt>
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      <invstOrSec>
        <name>John Deere Capital Corp.</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp.</title>
        <cusip>24422EYA1</cusip>
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          <isin value="US24422EYA18"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12026836.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.15795600</annualizedRt>
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      <invstOrSec>
        <name>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc.</title>
        <cusip>98978VAW3</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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      <invstOrSec>
        <name>Brookfield BRP Holdings Canada Inc.</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>Brookfield BRP Holdings Canada Inc.</title>
        <cusip>11284XGH8</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CF Secured, LLC</name>
        <lei>254900OXTV81I73FAT50</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CNO Global Funding</name>
        <lei>6354008GTNR4833ULD48</lei>
        <title>CNO Global Funding</title>
        <cusip>18977W2G4</cusip>
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        <balance>4918000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PCW4</cusip>
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        <balance>18000000.00000000</balance>
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        <valUSD>17790997.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.94700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Keurig Dr Pepper Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc.</title>
        <cusip>49271VAY6</cusip>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12009968.88000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust 2025-HE3</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Phillips 66</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Synchrony Card Funding, LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC USA Inc.</name>
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        <title>HSBC USA Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wheels Fleet Lease Funding 2026-1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chesapeake Funding II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust 2026-1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Residential Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Invesco Private Government Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GreatAmerica Leasing Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELUS Corp.</name>
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        <title>TELUS Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Advanced Micro Devices, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Residential Mortgage Loan Trust 2026-NQM4</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GCAT Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Bank, N.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chesapeake Funding II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carlyle Global Market Strategies CLO Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Bills</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hewlett Packard Enterprise Co.</name>
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        <title>Hewlett Packard Enterprise Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Nissan Auto Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Life Global Funding I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co. Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brighthouse Financial Global Funding</name>
        <lei>549300BLFX3KJ2IFOA78</lei>
        <title>Brighthouse Financial Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Ingersoll Rand Inc.</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Ingersoll Rand Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Haleon US Capital LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SoFi Consumer Loan Program Trust 2026-1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wheels Fleet Lease Funding 1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown Castle Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Salesforce, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PMT Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Life Global Funding II</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cargill, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Synchrony Card Funding, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sonoco Products Co.</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
        <title>Sonoco Products Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Neuberger Berman Loan Advisers CLO 47, Ltd.</name>
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        <name>Alphabet Inc.</name>
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        <name>Mitsubishi Ufj Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MassMutual Global Funding II</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GA Global Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Auto Receivables Trust</name>
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        <name>Honeywell Aerospace Inc.</name>
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        <name>Daimler Truck Finance North America LLC</name>
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        <name>Royal Bank of Canada</name>
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        <name>Ares LIII CLO Ltd.</name>
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        <name>Evergy Missouri West, Inc.</name>
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        <name>Concentrix Corp.</name>
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        <name>Royal Bank of Canada</name>
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        <name>OBX 2024-NQM12 Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wheels Fleet Lease Funding 1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Bank N.A.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <valUSD>8968238.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Actively Managed Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
